Gold prices rose for a third straight session on Wednesday to hit a one-week high, buoyed by a weaker dollar, while investors awaited U.S. inflation data for clues on the pace of future U.S. interest rate increases. Spot gold was up 0.3 per cent at $1,332 an ounce, as of 0115 GMT, after touching its highest level since Feb. 6 at $1,333.76. U.S. gold futures rose 0.4 per cent to $1,335 per ounce. The dollar was down against a basket of currencies at 89.722 , having shed 0.6 per cent overnight. A retreat in the dollar, in which bullion is priced, has helped gold pull back nearly 2 per cent from last week's one-month low of $1,306.81 an ounce. Asian shares were set for a tense session on Wednesday as investors await readings on U.S. inflation that could fan fears of faster rate hikes and unleash another burst of global volatility. U.S. inflation data for January is due on Wednesday and the U.S. Federal Reserve next meets on March 20-21. British inflation unexpectedly held close to its highest level in nearly six years in January, highlighting the challenge facing the Bank of England and reinforcing expectations of a rise in interest rates in May. Economic growth in the U.S., Europe and Asia has stoked inflation fears in recent weeks, pushing up bond yields and undermining stock prices, and Wednesday's U.S. inflation data may help determine whether the correction in equities markets is over. Inflation is sometimes regarded as gold-positive, because bullion is seen as a safe haven when price pressures are rising, but expectations that the U.S. Federal Reserve will lift interest rates to fight inflation make the non-yielding metal less attractive. Robust consumer spending drove Japan's economy to eight straight quarters of growth in October-December, its longest continuous expansion since the 1980s bubble economy. Courtesy- ET

Taking positive leads from the global marketNSE 0.00 % and wedding season buying by local jewellers and retailers, gold prices recovered by Rs 80 during the week in the bullion market. Silver too staged a co...

Multi Commodity Exchange has opened new delivery centres for gold in Chennai, Hyderabad, Kochi, Kolkata and Bengaluru. These delivery centres will be in addition to the existing facility in Mumbai and Delhi....

Over nine kg of smuggled gold worth Rs 3 crore was seized in West Bengal's Siliguri area and one person was arrested, an official said on Sunday.
Officers of Directorate of Revenue Intelligence (DRI) from Sil...

India’s polished diamond exports rose by 19.37% and gold jewellery exports (both studded and plain) were up by 8.72% during the month of October, according to provisional data released by The Gem & Jewellery E...

he Gem & Jewellery Skill Council of India in association with The Gem & Jewellery Export Promotion Council and the Gem & Jewellery Domestic Council organised an apprenticeship roadshow at the Park Hotel, Kolka...

A fancy vivid pink diamond just shy of 19 carats—formerly known as the Pink Legacy diamond—was sold to US-based Harry Winston for 50.4 million Swiss francs ($50.2 million) last night (Nov. 13) in Geneva. Accor...